Whats the Probability of an End of Week S&P 500 or GBPUSD Break
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Whats the Probability of an End of Week S&P 500 or GBPUSD Break

The US Stock markets were able to make great gains against the backdrop of high inflation and higher interest rates. However, they were also able to face an unexpected gap in the late stages of the week. This gap, which was formed by the underlying fundamental or technical factors, can be quite a serious threat to the economy. EUR/USD has failed to successfully break above its 50% Fibonacci retracement Earlier this week, EUR/USD reached its…

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Gold Price Setup Ahead of US CPI: Bear Flag Hints at Further Downside
Forex articles

Gold Price Setup Ahead of US CPI: Bear Flag Hints at Further Downside

Gold Price Setup Ahead of US CPI: Bear Flag Hints at Further DownsideThe US economy is slowly but surely losing steam and the Fed’s monetary tightening efforts are becoming increasingly futile. Hence, the CPI is expected to continue cooling in the coming months. Ahead of this week’s US inflation data release, market participants are expected to continue speculating about what the outcome may be and where gold prices could move from here. While there is…

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EURUSD Gains As Eurozone Data Show Modest Return To Growth
Forex articles

EURUSD Gains As Eurozone Data Show Modest Return To Growth

EURUSD Gains As Eurozone Data Show Modest Return To GrowthEURUSD Gains As Eurozone Data Show Modest Return To GrowthThe European Union’s currency strengthened against the US Dollar this morning, as a hawkish market mood and a pullback in the safe-haven ‘Greenback’ boosted appetite for the pair. It’s now trading at around $1.0432, an increase of roughly 0.6% from the previous session’s levels, as investors await the release of the US’ latest CPI data. A modest…

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GBP/USD Outlook: Pound Dollar Lacks Conviction as Price Action Stalls
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GBP/USD Outlook: Pound Dollar Lacks Conviction as Price Action Stalls

GBP/USD is currently trading between horizontal support and resistance levels at 1.2300. Despite a rebound from a recent US Dollar decline, the pair is still trading on the backfoot. The UK’s Autumn Budget did not provide the expected bullish impact and the Bank of England is expected to continue raising rates. As a result, this currency pair has been largely overextended. A rise in the UK unemployment rate has stoked recession fears. While the Bank…

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EUR/USD Clears October High to Eye September High
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EUR/USD Clears October High to Eye September High

Despite a strong bounce from the September low, the EUR/USD has retreated back to the $0.98 mark. This is primarily due to the weak economic growth outlook for the region, which is primarily driven by rampant inflation. In addition to this, the risk of a prolonged economic downturn is also high. This could make the ECB take a more dovish approach in its rate decisions, or at least cut short its rate hiking cycle. A…

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Crude Oil Forecast: Brent Bid on API and OPEC+ Ahead of Key US Data
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Crude Oil Forecast: Brent Bid on API and OPEC+ Ahead of Key US Data

During the week of October 5th, the price of Brent Crude Oil was bid ahead of key US data, including the American Petroleum Institute’s (API) API Petroleum Consumption Index (PCE) and the OPEC+’s Oil Market Report. These two key events, in combination with the upcoming meeting of EU energy ministers, have fueled speculation that prices may continue to move higher. WTIDespite the recent turmoil surrounding the Middle East and oil production, the Brent crude oil…

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Bitcoin in Nigeria
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Bitcoin in Nigeria

Bitcoin in Nigeria is gaining traction as a way to make money online. The country has high inflation and a fiat currency that doesn’t hold value. Traditional banks also charge absurd fees for basic transactions. And, since the country’s unemployment is rising, the cryptocurrency is proving to be a great alternative to traditional banking. With all of these advantages, Bitcoin is now more popular than ever in Nigeria. But what’s the future of Bitcoin in…

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Altcoins in Nigeria
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Altcoins in Nigeria

If you’re wondering how to buy and sell Altcoins in Nigeria, you’ve come to the right place. There are no hidden fees or charges at Quidax, the easiest way to buy and sell cryptocurrency. To use the service, simply enter your phone number and bank account details to verify your identity. Then, all you need to do is click ‘buy’ and’sell’ to buy or sell bitcoin. There are many benefits to trading Bitcoin and Altcoins…

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Cryptocurrency in Nigeria
Forex articles

Cryptocurrency in Nigeria

Although the legal framework for cryptocurrencies and cryptocurrency exchanges in Nigeria has not yet been created, lawmakers have requested that regulatory bodies quickly develop a plan for their implementation. Though there are several criticisms of cryptocurrencies in Nigeria, they are not illegal or regulated. The primary criticism of cryptocurrencies is their link to criminal activity. This misconception stems from the fact that most cryptocurrencies are decentralized and therefore, have no central control. Furthermore, Nigerian banks…

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Popular currency pairs in Nigeria
Forex articles

Popular currency pairs in Nigeria

The USD/Naira is one of the most popular currency pairs in Nigeria. Traders tend to trade in this pair during the afternoons, between 1:00 and 5:00 PM local Nigerian time. It is also known as the “Swissie” because the currency is the last Franc to circulate in Europe. CHF is short for Confoederatio Helvetica and is the currency of Switzerland, a neutral state located in the middle of Europe. The forex market is an international…

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